Entropy Technologies LP Cuts Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Entropy Technologies LP reduced its stake in EOG Resources by 75.5%, now holding shares worth $883,000 after selling 21,189 shares in the first quarter.
• EOG Resources announced a quarterly dividend increase to $1.02, with a yield of 3.5%, which will be paid out on October 31st to shareholders of record on October 17th.
• The company's stock price opened at $116.81 and has a market capitalization of $63.77 billion, with a price-to-earnings ratio of 11.35 and a beta of 0.80.

Entropy Technologies LP decreased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 75.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,887 shares of the energy exploration company's stock after selling 21,189 shares during the period. Entropy Technologies LP's holdings in EOG Resources were worth $883,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its holdings in EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock valued at $30,449,000 after buying an additional 89,521 shares during the last quarter. Townsquare Capital LLC grew its position in shares of EOG Resources by 13.6% in the 4th quarter. Townsquare Capital LLC now owns 21,374 shares of the energy exploration company's stock worth $2,620,000 after buying an additional 2,563 shares during the period. Sagespring Wealth Partners LLC bought a new position in EOG Resources in the 4th quarter worth about $627,000. SageView Advisory Group LLC boosted its stake in EOG Resources by 2.3% in the 4th quarter. SageView Advisory Group LLC now owns 10,196 shares of the energy exploration company's stock worth $1,250,000 after purchasing an additional 233 shares in the last quarter. Finally, Mariner LLC boosted its stake in EOG Resources by 7.5% in the 4th quarter. Mariner LLC now owns 111,571 shares of the energy exploration company's stock worth $13,676,000 after purchasing an additional 7,763 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EOG. Stephens began coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. Raymond James Financial upped their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group restated a "buy" rating and set a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Mizuho lowered their target price on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.71.

EOG Resources Stock Performance

EOG Resources stock traded up $1.31 during midday trading on Wednesday, hitting $119.32. The stock had a trading volume of 2,951,150 shares, compared to its average volume of 3,065,722. The firm's fifty day moving average is $120.01 and its two-hundred day moving average is $119.64. The company has a market capitalization of $65.15 billion, a PE ratio of 11.60, a P/E/G ratio of 9.02 and a beta of 0.80. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the firm posted $3.16 EPS. The company's revenue was down 9.1% on a year-over-year basis. On average, research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio is 37.90%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.